Content Options

View Options

Status: You are viewing the version of the handbook as on 2009-03-31.

FEES 3 Annex 1 Authorisation fees payable

R

Part 1 - Authorisation fees payable R

Application type (see Part 2)

Amount payable

(a) Credit unions - registration of common bond

200

(b) Version 1 credit unions - authorisation

300

(c) Version 2 credit unions - authorisation

1,800

(d) Straightforward

1,500

(e) Moderately complex

5,000

(f) Complex

25,000

Part 2 - Complexity Groupings Straightforward Cases R

Straightforward cases

Activity grouping

Description

A.3

Friendly societies only

A.4

Friendly societies only

A.12

Advisory arrangers, dealers or brokers (holding or controlling client money and/or assets)

A.13

Advisory only firms and advisory arrangers, dealers or brokers (not holding or controlling client money and/or assets)

A.14

Corporate finance advisers

A.181

Home finance providers4, advisers and arrangers (excluding home finance providers4)1

44

A.191

General insurance mediation1

Moderately Complex Cases R

Moderately complex cases

Activity grouping

Description

A.1

E-money issuers only

A.21

Home finance providers4 and administrators1

4

5A.3

UK ISPVs

5A.4

UK ISPVs

A.5

Managing agents at Lloyd's

A.7

Fund managers

A.9

Operators, trustees and depositaries of , operators of personal pension schemes and operators of stakeholder pension schemes3

A.10

Firms dealing as principal

B.

Service companies

Complex Cases R

Complex cases

Activity grouping

Description

A.1

Deposit acceptors (excluding e-money issuers and credit unions)

A.3

Insurers - general (excluding friendly societies and UK ISPVs5)

A.4

Insurers - life (excluding friendly societies and UK ISPVs5)

Part 4 - Authorisation Fees for Treaty Firms R

If the Treaty firm wishes to undertake the permitted activities in question through its branch in the United Kingdom, the fee is 50% of the fee that would be payable under FEES 3.2.7 R for an applicant for Part IV permission.

If the Treaty firm wishes to undertake the permitted activities in question by providing services in the United Kingdom, the fee is 25% of the fee which would be payable under FEES 3.2.7 R for an applicant for Part IV permission.

Part 5 - Activity Groupings R

The activity group definitions are set out in FEES 4 Annex 1R2

2

Part 6 - Change of legal status2

2

An application involving only a simple change of legal status for the purposes of FEES 3.2.7 R is from an applicant:

2

(1) which is a new legal entity intending to carry on the business, using the same business plan, of an existing firm with no outstanding regulatory obligations cancelling its Part IV permission, and

(2) which is to:

(a) have the same or narrower permission, and the same branches (if any), as the firm;

(b) assume all of the rights and obligations in connection with the regulated activities carried on by the firm;

(c) continue the same compliance arrangements and compliant client asset and client money procedures, as the firm, subject to any changes required only as a result of the change of legal status;

(d) continue with a risk profile and arrangements for controlling and monitoring risk which will not be materially different from those of the firm; and

(e) have the individuals within the firm that are responsible for insurance mediation activity perform the same role for the applicant.